According to Google’s trend explorer, the weekly number of searches for the keyword “bitcoin” has reached levels of April.
In the past three days ‘Bitcoin’ searches alone made up 17 percent of its all-time-high weekly search volume set from Dec. 17-23, 2017. Nigeria, South Africa and Austria gave the most searches over the past week.
According to a study by SEMrush, the current price of bitcoin has a 91% correlation with the volume of Google search requests for bitcoin-related terms. As bitcoin becomes more expensive, and thus more exciting, more people search online to find out how it is doing.
Periods of low ‘bitcoin’ search volume have historically shown to be the points of maximum financial opportunity. Whereas periods of abnormally high search volume tend to act as a warning sign that bitcoin is in a bubble and may soon experience a pullback in price.